EVALUATING THE ROLE OF TOURISM IN THE ECONOMIC DEVELOPMENT OF THE REPUBLIC OF ARMENIA AND OTHER MEMBER STATES OF THE EURASIAN ECONOMIC UNION

Main Article Content

Gayane Tovmasyan

Abstract

Tourism has a significant role in the economies of many countries. It creates jobs, brings money, promotes investments, decreases poverty, develops infrastructures, etc. Many research works try to evaluate the role of tourism development on the economy. The article evaluates the role of tourism development in the economy of Armenia and checks the Tourism-Led Growth Hypothesis (TLGH). With the help of statistical methods, the article evaluates the connections between tourism total expenses (visitor exports, domestic spending, government spending, and capital investment), the number of tourists and tourism total contribution to GDP, employment and other indicators. Besides, the correlation analysis between these indicators was done for the Member States of the Eurasian Economic Union. The results show that the increase in tourism expenses and the number of tourists will increase GDP and employment. However, the change in tourism contribution to employment is not so high, which was explained by different reasons. The same is the case for other countries of the Eurasian Economic Union. The article results may be helpful for future studies, as well as for government agencies for evaluating tourism contribution to economic development and for elaborating tourism development policies. 

Downloads

Download data is not yet available.

Article Details

How to Cite
Tovmasyan, Gayane. 2022. “EVALUATING THE ROLE OF TOURISM IN THE ECONOMIC DEVELOPMENT OF THE REPUBLIC OF ARMENIA AND OTHER MEMBER STATES OF THE EURASIAN ECONOMIC UNION”. Journal of Liberty and International Affairs 8 (3):83-98. https://doi.org/10.47305/JLIA2283083t .
Section
Articles
Author Biography

Gayane Tovmasyan, AMBERD ASUE Research Center; Public Administration Academy of the Republic of Armenia - Yerevan, Armenia

Gayane Tovmasyan is PhD in Economics, Associate Professor. Currently works as a Senior Researcher at AMBERD Research Center of the Armenian State University of Economics, lecturer at the Public Administration Academy of the Republic of Armenia, and lecturer at the Armenian State University of Economics. She is an expert of the project "WE TOUR- empowerment of women through tourism " by Black Sea Basin Cross Border Cooperation (the project is financed by the European Union) since 2021 June. Also, she is an economist at Arpa Environmental Foundation in the project “Preparation of Destination Management Organization (DMO) Development Model for the Republic of Armenia”, with the support of the World Bank and the co-financing of the Government of the Republic of Armenia since 2022 August. She is an author of more than 100 scientific publications (including 9 in Scopus and Web of Science databases). Since 2019 until now, she is a member of the 015 specialized councils of the economics of the RA Certifying Committee. She speaks Armenian, Russian, English, Spanish and Italian languages. Since 2017 she is a member of the editorial board of the scientific journal "Business Ethics and Leadership" of Academic Research and Management Guidance Publishing founded by Sumy State University of Ukraine (http://armgpublishing.sumdu.edu.ua/journals/bel/). Her research interests are tourism, management, economics, and education.